Knock off Accounting Entries for VAT Settlement Process are Not Generated.
(Doc ID 341993.1)
Last updated on JANUARY 13, 2021
Applies to:Oracle Financials for India - Version 11.5.5 to 188.8.131.52 [Release 11.5]
Information in this document applies to any platform.
Oracle Application - India Localization - Version: 11.5.5 to 11.5.10
VAT Settlement Process is done to set off Tax recovered against Tax Liability.
This does not generate Accounting Entries.
System should generate following accounting entries on VAT Settlement Process:
Debit : VAT Liability A/c
Credit : VAT Recovery A/c
Applied the VAT Enhancement <Patch: 4245089 >
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